Continental Resources Inc. (CLR) Stock Price Up 3.2%
Continental Resources Inc. (NYSE:CLR) rose 3.2% during mid-day trading on Friday . The company traded as high as $50.62 and last traded at $50.30, with a volume of 1,579,670 shares changing hands. The stock had previously closed at $48.75.
CLR has been the subject of a number of recent analyst reports. Wells Fargo & Co. initiated coverage on shares of Continental Resources in a report on Tuesday, August 16th. They issued an “outperform” rating and a $54.00 target price for the company. Jefferies Group restated a “sell” rating on shares of Continental Resources in a report on Thursday, August 11th. SunTrust Banks Inc. upgraded shares of Continental Resources from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, August 1st. Scotiabank restated an “outperform” rating and issued a $17.00 target price on shares of Continental Resources in a report on Tuesday, June 28th. Finally, Deutsche Bank AG boosted their target price on shares of Continental Resources from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $42.72.
The company’s market capitalization is $18.63 billion. The stock’s 50-day moving average price is $46.14 and its 200 day moving average price is $38.10.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.01. The company had revenue of $525.70 million for the quarter, compared to analysts’ expectations of $518.42 million. The business’s revenue for the quarter was down 33.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. Equities research analysts forecast that Continental Resources Inc. will post ($0.77) earnings per share for the current fiscal year.
In other Continental Resources news, SVP Eric Spencer Eissenstat sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $43.32, for a total transaction of $433,200.00. Following the sale, the senior vice president now directly owns 173,136 shares in the company, valued at approximately $7,500,251.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO John D. Hart sold 13,500 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $42.42, for a total transaction of $572,670.00. Following the sale, the chief financial officer now owns 310,211 shares in the company, valued at $13,159,150.62. The disclosure for this sale can be found here.
Continental Resources, Inc is an independent crude oil and natural gas exploration and production company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.
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